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Great Wall Motors and General Motors sign agreement for purchase of GM's Talegaon plant
Great Wall Motors (GWM) and General Motors (GM) today announced an agreement for the sale of GM India’s Talegaon manufacturing facility, subject to requisite government and regulatory approvals. Under a binding term sheet signed yesterday, the GM India legal entity, which includes the Talegaon facility, will transfer to GWM. GWM Global Strategy Vice President Mr. Liu Xiangshang said the transaction would underpin the company’s plan to enter and invest in India. “T...
Great Wall Motor expands global footprint coinciding with India debut
Post India debut, Great Wall Motor (GWM) expands its global footprint by signing an agreement for the purchase of General Motors’ manufacturing facility in Rayong, Thailand. This announcement is subject to government and regulatory approvals. Under a signed binding term sheet, GM Thailand and GM Powertrain Thailand legal entities, which include the Rayong vehicle assembly and powertrain facilities, will transfer to GWM. GM and GWM are targeting end of 2020 to close the deal and ...
Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and the largest exporter since inception, today signed an Asset Purchase Agreement (APA) for the acquisition and assignment of identified assets related to General Motors India (GMI)’s Talegaon Plant in Maharashtra. Unsoo Kim, Managing Director and CEO of Hyundai Motor India Ltd., and Asifhusen Khatri, Vice President Manufacturing of General Motors India and General Motors International Op...
Chinese investments in India to come under scanner: Sources
Investments from China in the automobile sector are expected to come under the scrutiny of the Indian government, according to reliable sources in the industry. This is in light of the current political situation between India and China, following which the Maharashtra government announced that it has put on hold the Memorandum of Understanding (MoU) with Chinese auto makers Great Wall Motors (GWM) and PMI Electro Mobility Solutions (joint venture with Foton). When contacted, GWM India did...
